The head of the world’s largest bond fund says investors shouldn’t read too much into the recessionary signal coming from the US Treasury market.
In an interview with MarketWatch, Daniel Ivascyn, group chief investment officer of Pacific Investment Management Company, or Pimco, said too many market participants were watching for an economic downturn by monitoring the twists and turns of the yield curve, which saw the rate on 10-year Treasurys fall below the 3-month Treasury bill yield on March 22, marking the first such inversion since 2007.
